With the
possible signing of Under Armour’s first MVP, a $30 million dollar bounty is
awaiting Kevin Durant for his services. This would be a huge step for the small
up and coming sportswear and apparel company. This could also, like the ad,
make Nike sweat just a little. For the past few seasons, Nike has been loosing
players to other competition such as Dwayne Wade, Kevin Garnett, and even Kanye
West. With that said, that is a good sign that there is room for completion
now.
The ideas
of not being able to get your ideas out on the floors and the fields because of
the stranglehold the big boys have is now coming to an crossroad. The ability
to make quality footwear now and the technology to give threat to the larger
conglomerates at a more reasonable price is a testament to what the future
holds for people like Under Armour. Given the fact that his first contract with
Nike was for six years at $60, his next contract could potentially be worth $30
yearly for a possibility of six more years to ten. Not a bad deal. Also with
applications of support from people like the UA CEO, Kevin Plank, he has been
able to deliver on his word, along with NFL soon to be Hall of Famer, Ray
Lewis, the unveiling of the city area high school uniforms.
This is
something I have hoped to do for my city and have even written it in my
business plan. The art of really giving back is a lost form. Check them out on www.baltimoreravens.com
and also #Under Armour #Ray Lewis
“Though
Under Armour’s predicted revenue for fiscal year 2013 ($2.2 billion) is still
significantly less than rival Nike’s (NYSE:NKE) ($25.3 billion), it is clear that
the Baltimore, Maryland-based Company is on the rise, and more than a couple
competitors are taking notice.” (Emily Coyle) In such a short time, it is
testament to see a company not even 20 years old make such a bold statement and
monumental achievement. It is truly inspirational for designers like myself.
Their projections of $2.2 Billion for the end of fiscal year 2013 is a tall
push and they have the eyes of the competition. Look over your shoulders boys.
Resources:
Switching
Sides: When Athletes Change Sneaker Endorsements
Complex
Mag July, 17 2009
Kevin
Durant could sign with Under Armour for $30 million a year, a deal that could
help push NBA MVP to Wizards
Frank
Isola
Ravens,
Under Armour Unveil Baltimore City Uniform Donations
Posted
Aug 6, 2014
Garrett
Downing
Are Under
Armour’s Impressive Earnings Causing Nike to Sweat?
Emily
Coyle January 30, 2014
